Table 1

Empirical context under the ARA lenses

AlphaBetaGammaDelta
Profile of selected start-ups
Interviews
Netnography (total pages of scanned material; sources: no. of content items)
Year: 2012 product: Smart glasses
Interviewee: Co-founder and CEO
Interview 1: 4/9/2018 (1 h:35 min)
Interview 2: 6/21/2019 (1 h:05 min)
-Total pages of scanned material: 26
CF platforms: 55
Company website/blog: 2
Year: 2016 product: Smart tiles
Interviewee: Co-founder and CEO
Interview 1: 5/17/2018 (1 h:25 min)
Interview 2: 6/6/2019 (e-mail recall and interview – 30 min)
Total pages of scanned material: 7
CF platforms: 6
Company social media platforms: 4
Year: 2016 product: Photovoltaic systems
Interviewee: CEO
Interview 1: 8/2/2018 (1 h:10 min)
Interview 2: 6/25/2019 (50 min)
Total pages of scanned material: 22
CF platforms: 35
Year: 2014 product: 3D solutions
Interviewee: Co-founder
Interview 1: 8/1/2018 (1 h:25 min)
Interview 2: 6/20/2019 (1 h:15 min)
Total pages of scanned material: 16
CF platforms: 37
Combination of CF campaigns and their main featuresNECF + ECFECF + NECFECF + ECFNECF + NECF
 2013 – First NECF
Financing for product development in B2C markets
Outcome: €117,000 out of €134,000
2016 – Second ECF
Financing for growth in B2B markets
Outcome: €250,000 out of €250,000
2016 – First ECF
Financing for expansion of patent protection in foreign countries and business development
Outcome: €184,000 out of €75,000
2017 – Second NECF
Increasing reputation and market visibility
Outcome: €5,700 out of €5,000
2017 – First ECF
Financing for business development
Outcome: €184,000 out of €184,000
2018 – Second ECF
Financing for business development
Outcome: €2,250,000 out of €2,250,000
2013 – First NECF
Product development and testing
Outcome: €16,000 out of €1,500
2014 – Second NECF
Product development and testing
Outcome: €70,000 out of €25,000
Actors, activities and resources analysis in the first and in the second CF campaignKey actors
Entrepreneur
Backers (users)
Google and PayPal (external actors)
Main activities
CF campaign
Product development
Marketing activities
Production planning
Key resources
Technological knowledge (product)
Key actors
Entrepreneur
Marketing team
Backers (investors)
Industrial customers
Main activities
CF campaign
Marketing activities
Product development
Production planning
Key resources
CF knowledge
Technological knowledge (product)
Marketing knowledge
B2B market knowledge
Key actors
Entrepreneur
Backers (investors)
Key ECF investor
Main activities
CF campaign
Marketing activities
Product development
Production planning
Key resources
Financial resources (public funding of R&D project)
Technological knowledge (product)
Key actors
Entrepreneur
Marketing team
Backers, experts, potential customers
Main activities
CF campaign
Marketing activities
Key resources
CF knowledge
Technological knowledge (product)
Marketing knowledge
B2B market knowledge
Key actors
Twelve original owners
CEO/Managing Director
Marketing team
Backers (investors)
Main activities
CF campaign
Product development
Production planning
Marketing activities
Key resources
CF knowledge
Technological knowledge (product)
Marketing knowledge
Social/business relationships (related to owners)
Key actors
Twelve original owners
CEO/Managing Director
Marketing team
Backers (investors)
Key industrial partner
Main activities
CF campaign
Product development
Production planning
Marketing activities
Key resources
CF knowledge
Technological knowledge (product)
Marketing knowledge
Social/business relationships (related to owners and to the previous campaign)
Key actors
Two founders
Backers (users)
Main activities
CF campaign
Marketing activities
Product development
Production planning
Key resources
Technological knowledge (product)
Prototype
Key actors
Two founders
Backers (users)
Main activities
CF campaign
Marketing activities
Product development
Production planning
Key resources
CF knowledge
Technological knowledge (product)
Prototype
Market knowledge

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